Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Important TDS rate changes from October 1, 2024, affecting insurance, rent, commissions, mutual funds, and e-commerce. Learn about...
Income Tax : Explore Section 194-Os impact on e-commerce tax compliance. Learn about TDS obligations, rates, and procedures for seamless financ...
Income Tax : Explore Section 194-O of the Income Tax Act, focusing on Tax Deducted at Source (TDS) requirements for e-commerce operators. Under...
Income Tax : Explore resolutions for CBDT Circular No. 20/2023 issues: TDS responsibilities, fees inclusion, treatment of taxes, purchase-retur...
Income Tax : Understand Section 194-O amendment reducing TDS rate from 1% to 0.1% for e-commerce payments, effective October 2024. Impact on e-...
Income Tax : Mjunction Services Ltd. Vs Union of India (Calcutta High Court) HC directs CBDT to dispose the representation made U/S 194O: A sin...
Income Tax : Stay updated with Circular No. 20/2023 on Income Tax Section 194-O. Learn guidelines for e-commerce operators, TDS on gross sales,...
Income Tax : Guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and subsection (1-I) of section 206C of the I...
Income Tax : Finance Act, 2020 amended provisions relating to TCS with effect from 1st October, 2020 to provide that seller of goods shall coll...
Income Tax : Finance Act, 2020 inserted a new section 194-0 in the Income-tax Act 1961 which mandates that with effect from 1st day of October,...
Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.
Explore TDS essentials: Section 194IA for Property Sale, 194N for Cash Withdrawals, 194O for E-commerce, and 194IB for Rent. Get insights on rates, thresholds, and compliance.
Unravel the intricacies of TDS under Section 194-O of the Income Tax Act, 1961 effective from 01/10/2020. Explore its applicability, limits, eligibility criteria for e-commerce operators and participants, and grasp the essentials for compliance.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
Discover the applicability of TDS under section 194Q of the Income Tax Act for purchase of goods of value exceeding INR 50 Lakhs. Get to know how the provision, effective from 1st July 2021, affects you, here!
Explore the updated Income Tax TDS Rate Chart for FY 2022-23 / AY 2023-24. Comprehensive guide covering TDS rates on various incomes as per the Income-tax Act. Stay informed to ensure accurate tax deductions.
Demystify TDS on payments by E-Commerce Operators to participants with Section 194-O. Understand the nature, deductor responsibilities, time of deduction, rates, and exemptions. Stay compliant and navigate the complexities of E-Commerce transactions
1. Applicability of the TDS provisions @ 0.1% (i) It’s applicable from 1st July 2021 against the purchases of goods from Indian resident seller. (ii) It’s applicable where purchaser is purchasing of goods from Indian resident seller for minimum of Rs. 50 Lakhs during the Financial year (FY) ending on March 31, 2022 and also […]
There are many taxation provisions affecting the E-Commerce transactions in Income Tax as well as GST. The government is introducing various sections in both the taxation regimes, that is Direct and Indirect Tax so as to evade non-taxation of the transactions and obtaining tax benefit.
Recently, vide circular no. 20 of 2021 dated 25th November 2021, the Central Board of Direct Taxes has come up with various important clarifications on number of issues relating to provisions of section 194O(4); section 194Q(3) and section 206C(1H). The same is analyzed and explained in the current article. Briefs of all the three relevant […]
